- Chief executive of Danske Bank resigns after money-laundering investigation
- NatWest to pilot UK’s first intelligent cash management system
- EEA nationals play a key role in financial services, says UK Finance
- Public register for the UK Money Markets Code launched
- Mastercard agrees to settle monetary damages related to US merchant litigation
- Bitcoin will lose 50% of its market share to Ethereum in five years
- Nomura leads first green bond offering in Japanese manufacturing industry expired
- FS industry should be looking ahead to move beyond traditional cards, says Arxan expired
- NAB announces a number of executive changes expired
- Focus on issuer fundamentals critical in AT1 market, says Scope expired
- HSBC chief executive of Global Private Banking to retire expired
- UAE’s new expat laws could make it one of the world’s top ten financial hubs expired
15th May 2018
Pershing adds Capital First Trust Company to its trust network
BNY Mellon's Pershing has added Capital First Trust Company (Capital First) to its trust network. Capital First focuses on special needs trusts—an area of growing interest for Pershing clients. This latest addition brings the total number of providers in the Pershing Trust Network to seven.
"Capital First brings to our network a deep expertise in special needs trusts as well as lower minimums geared toward the unique needs of this community," said Katie Swain, director of financial solutions at Pershing. "We are increasingly hearing clients inquire about special needs trusts and we are thrilled to add to our network a provider that has a niche focus in this area."
In addition to Capital First's standard low fee schedules, the firm offers fee schedules for large revocable, irrevocable, and special asset accounts, bypassing the traditional fee schedule approach and providing separate discounted breakpoints for relationships at $5m and $10m+.
"We are honoured to be selected for inclusion in the Pershing Trust Network," said Chris Foregger, president of Capital First Trust Company. "We believe our strength in the administration of special needs trusts, as well as the advisor directed trust space, will provide a unique value to Pershing clients."
Launched in 2008, Pershing's Trust Network includes capabilities such as full trustee services and administrative trustee services. The platform enables Pershing's clients to perform investment management activities for their clients' trust accounts with all related assets held in custody at Pershing.